N: On opening, it’s dense, thick and flavoursome but its hard to decipher exactly what those flavours are. Overall its a fair, mild mannered, compacted, balanced. savoury<sweet malt with a floral edge and a little some plasticine. Compared to Bruichladdich Scottish barley Classic WB, this is work-worn, certainly more rounded with an overall smell profile of soft lemons in porridge - endearing indeed and most idiosyncratic of the [Spey] region. A month later and its thus: a slow-aged cereal led, honey-sugar malt with sour-lemon-mash that swings between dry-chalky-floury-dusty-creamy and plasticky malt. Also a little Worcester sauce with undisclosed Chinese dish beef meat, onion seeds and a slight mushroom note. Despite inactivity oak side, it's still a lot of years.
T: Although its bottled at the abv minimum, its not underpowered.. Sour-lemon moves malty/cereal, a little sharp then chalky/powdery as the wood kicks in. With water it's peppery, sharp-ish but more chalky. Neat I get more sugars that help tackle the sourness. However as the bottle opens up it becomes far more aromatic with water before the sweetish maltiness comes through, coupled as ever with that sourness. Mainly malty to malty-sour with eggy pancakes before the sour lemon hits home.
F: Moderate/quick fade that stays on the sharp-sour, aged, lemon-malt direction with some cream. There are issues at the end, the result of so many cask variables no doubt. Concludes sour and dry as the oak lingers.
C: How much does a similar aged, Speyside single malt [Glen grant for example] cost these days? (Dec '15) - more than £50 I’m betting. Those mainly used to drinking much younger malts should appreciate the fundamental differences that age brings, even if its to experience slow-steeped oak maturation [despite the inactivity] for a very fair price. With its modest price however, it inevitably comes with its ups and downs. Overall, the ups occur at the beginning [opening] of the bottle and on the nose in general - and as much as I've tried, the rest is ok but frankly doesn't quite hold up and certainly suffers from expose. One of Richard’s picks as whisky of the year 2015 at Scotchwhisky.com, mainly for its enjoyment vs price ratio. At £50 its good but I think theres an even better deal from Lidl outturn, in the form of the blended 25yo Glenalba WB.
Scores a C+ 
Oh, and it's an undisclosed Tamnavulin. Let's recap:
a vintage 28yo Tamnavulin for £50, my my!